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This would depend on what the reason for the suit is and what payments are made for. If, for instance the suit was for unpaid wages, then the direct payments demanded by the court for wages would be taxable, as would interest allowed by the court. If a suit was for damages such as an injury to a person in an automobile accident then the award would not be taxable. Worker's Compensation payments are also an item that is not taxable.
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Can you be taxed for a mental trauma suit won?
NO... Any money(s) won by mental anguish are non taxable ... under the mantel heath law ...
Is money left to you from a trust taxable?
Yes, in most cases it is taxable. The law is different depending on the type of trust and what state you are residing in.
Is punitive damage in a law suit taxable in New York city?
Punitive damages that are awarded in a lawsuit are generally not taxable in the state of New York. However, they can become taxable if they are used to pay or compansate the plaintiff for non-persoanal injuries.
In law suit settlement what is consider taxable?
Civil lawsuit settlments are not usually taxed in the main areas-medical bill compensation, lost wages, pain and suffering, etc. But additional funds such as punitive court fines or interest on the compensation may be taxed. The law article below explains lawsuit taxation in greater detail.
I bought a used car that is a lemon and I am suing do I have a chance to win in a Virginia court if I signed an As Is contract?
not a chance of winning!! You signed a contract that stated "as is" do not waste your money on a law suit cut your losses and move on.
Is their a law on casino money won?
In the United States money won in a casino or any other gambling endeavor minus losses is taxable income.
Who get paid after winning a lawsuit?
If the plaintiff (that is the person who filed the law suit) wins (i.e. is awarded a judgment), then they can attempt to collect the money that they were awarded by the Court. There is no guarantee that they will be able to collect any money, as the Court is not involved in this process and it is up to each individual plaintiff to collect on their judgment.
Winning money from biggest loser competition in a little community..is it legal?
(In the US) As long as the taxes are paid on the winnings, winning anything is not against the law.
Can child support take money from a law suit awarded from a hospital in Washington state?
yes
Can you file a civil suit against the teacher?
You would have to bring suit primarily against the teacher. And then - you would have to consider the value (and your chances of success), in bringing a suit against the school. Such a suit could conceivably allege poor supervision, or some other catch-all, but unless you can prove that the school was aware (or should have been aware)of the treachers activities, the chances of winning are pretty slim.
Will any money you win from a law suit be taken by your collectors?
If they have court ordered liens against your assets, yes, they can.
Name the suit which you cannot wear?
A suit of cards _________________________ or a law suit...
